Friedman sales, net income down sharply for fiscal year

Jun 17, 2013 | 04:53 PM | Thorsten Schier

Tags  Friedman Industries, tubular, coil, earnings report, U.S. Steel, Thorsten Schier

NEW YORK — Friedman Industries Inc.’s net income fell in its fiscal year ended March 31 on the back of a sharp drop in fourth-quarter earnings.

Friedman posted net income of $6.14 million for the year, down 24.7 percent from $8.15 million the previous year on revenue that fell 15.5 percent to $136.45 million. Tubular products accounted for 51 percent....

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